Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Friday November 30. Click on a stock ticker for more analysis:
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Wachovia (NASDAQ:WB), Bank of America (NYSE:BAC), Citigroup (NYSE:C), Countrywide (CFC), Annaly Capital Management (NYSE:NLY)
Cramer, who has been identifying parallels between the current credit crunch and the crisis in 1990, says according to this "playbook" financials are bottoming and are worth holding onto. In the 90s, financials kept "going and going like the Energizer bunny," and believing the same thing will happen now, he urges investors to keep buying WB, BAC, C, preferred shares of CFC, and NLY, which should get "more attractive" as the Fed cuts rates.
Farewell Zander, Hello Saleh: Motorola (MOT), Sprint (NYSE:S)
Since Motorola CEO Ed Zander turned in his resignation on Friday, there is a vacant spot on Cramer's CEO Wall of Shame. While he would sometimes be bullish on a company when a rogue CEO leaves, Cramer says Zander did sufficient damage at Motorola to keep the company on his bear list for a while. Sprint CEO Paul Saleh will be taking Zander's place because of his decision to reject a $5 billion bid from Providence Equity Partners and SK Telecom. If the bid had been accepted, former Nextel CEO Tim Donahue would have come back to Sprint; "We want Donahue to come back and rescue us." Cramer said.
Related: Judith Levy reports details on Sprint's rejected offer.
The chemical that makes steel even stronger, Molybdenum, is a hot commodity right now, and the only companies which are pure plays are TC and GMO. Of the two, Cramer prefers TC, a new listing on the NYSE. The fifth largest producer of moly is a bit risky, because if the price of the chemical decreases, the company "will get hammered." However, Cramer thinks this scenario is unlikely since prices have been increasing and demand is as strong as steel.
Tenet Healthcare (NYSE:THC)
Cramer's next speculative stock is THC which is "hated" by the street for its debt and liquidity problems, but is a great value stock which should climb from $5.51 to $8, he predicted. THC, which manages hospitals, just signed on 845 new doctors and is under new management. Cramer would research the stock and not buy it if it goes up on Monday. Otherwise, "Buy a little in five days and wait for a pullback to buy more," he said. "It may be one of the most hated names on Wall Street, but it's become one of my favorite names out there."
Related: Bespoke Investment Group notes THC nearly tops the list of most analyst sell ratings.
Cramer has been keeping an eye on MASI and says it is a "pistol." Although he thinks SSL is the best coal company, he would take profits. Brocade reported a great quarter and he would buy BRCD "right here, right now."
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